Selected Data from the Financial Statements Are Provided Below

Multiple Choice

Selected data from the financial statements are provided below:

-Refer to Rags to Riches. Which of the following would result from a horizontal analysis of the company's income statement?

A) Cost of goods sold is 42.1% of net sales for 2020.
B) Gross profit is 57.9% of net sales for 2020.
C) Cost of goods sold decreased 23.8% from 2019 to 2020.
D) Inventory decreased $4,000 or 20% during 2019.